Telangana state records 27.45% growth in revenue
The Dollar Business Bureau
Telangana has achieved a revenue growth of 27.45 per cent in the recent months, the state government announced recently. “There has been remarkable growth in all key departments”, the CM proudly announced to the media following a finance review meeting with the senior officials. He expressed happiness at the fact that the State achieved remarkable progress despite severe drought conditions for two consecutive years.
A press release from the office of the Chief Minister said that growth was excellent in the month of April and May, compared to the previous year. During April and May of the current financial year, the revenue for the departments like commercial taxes, registrations and stamps were Rs 7,687 crores which rose from Rs 6,031 crores for the same period last year. If the same growth continued in the remaining months of the current fiscal, the States revenues would be higher by Rs 11,500 crore in the current fiscal compared to the the previous year.
Explaining the reasons for the growth the official release from the CMO’s office said that a favorable industrial policy and the boost given to real estate and other positive factors such as transparent and corruption-free procedures, ease of doing business that the state government has adopted played a vital role in the increase in revenue.